Commercial Real Estate Market in Millcreek, UT
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
34 active listings and 39 off-market properties in Millcreek, UT. Commercial property asks $772/SF to buy and $12.00/SF/Yr to lease.
Market Trends
Millcreek, UT spans 83.9 square miles in Salt Lake County, Utah. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Millcreek, UT runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Millcreek, UT runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Millcreek, UT runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily space in Millcreek, UT asks $293/SF to buy. Vacancy runs 8.6% across the West region in 2025, up from 7% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 80.4%
- Commercial 16.2%
- Industrial 2.5%
- Mixed use 0.4%
- Civic 0.3%
Largest Zones share of zoned land by district
Single Household Residential
Single Household Residential
Forestry Recreation Estate
Residential Mixed
Community Commercial
Millcreek, UT zones 6,833 acres across 35 districts. Commercial zoning covers 16.2% of zoned land, residential 80.4% and industrial 2.5%. The largest single district is Single Household Residential at 31.1%. For commercial buyers the practical constraint is that only 18.8% of land carries a commercial or industrial designation.
Single Household Residential (R-1-8)
The purpose of the Single Household Residential Zones is to establish single household neighborhoods consistent with the City general plan for low density residential areas within the City
Market overview
Demographics & Economy
Millcreek, UT has 146,920 residents in 64,190 households. Density runs 1,751 people per square mile. Median household income here is $98,573 and median gross rent $1,530 a month.
146,920
Population
64,190
Households
2.3
Avg Household Size
36
Median Age
54%
College-Educated
96%
High-School Grad
83.9 sq mi
ZIP Area
1,751
Density / Sq Mi
$98,573
Median Household Income
$52,977
Median Earnings
$1,530
Median Rent
$564,283
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Murray | — | $19.61 |
| Holladay | — | — |
| Salt Lake City | — | $23.17 |
| South Salt Lake | — | — |
Commercial property in Millcreek, UT asks $772/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Millcreek?
Commercial property in Millcreek, UT asks an average of $772 per square foot. Multifamily carries the highest asking price at $293/SF.
How much does it cost to lease commercial space in Millcreek?
Asking lease rates in Millcreek, UT average $12.00 per square foot per year.
What zoning applies to commercial property in Millcreek?
Millcreek, UT zones 6,833 acres across 35 districts, of which 16.2% is commercial and 2.5% industrial. The largest single district is Single Household Residential at 31.1% of zoned land. The purpose of the Single Household Residential Zones is to establish single household neighborhoods consistent with the City general plan for low density residential areas within the City Residential zoning covers 80.4% and open space 0%.
Where does Realmo's Millcreek market data come from?
Realmo compiles Millcreek, UT figures from 24 active sale listings, 10 active lease listings, 39 tracked off-market properties, the current Millcreek zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 24 active for-sale and 10 active for-lease listings in Millcreek, UT. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 6,833 zoned acres across 35 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
